First, the project party XTZ stated that there will be upgrades this year. The first is Etherlink, the second is Michelson Rollup, and the third is support for mainstream languages. However, note that at this stage, it is only deploying L1 to L2, and it is possible that the project party is using this upgrade for speculation since they have been accumulating at the bottom for a long time.
Reasons for the rise: First, high trading volume.
Second, market upgrades and exposure (ecosystem expansion).
The main reason is still the influence of the South Korean market sentiment.
The South Korean UPbit exchange is one of the largest exchanges by XTZ trading volume. By increasing high liquidity, it indirectly promotes price increases, but this is just my speculation. It is not easy to talk about replacing Ethereum.
In summary, the coins speculated in South Korea may just be harvesting retail investors and harming the local people. It is advised to be cautious about following the trend, and their on-chain ecosystem is also rather mediocre. Just picking any project on the Ethereum chain would easily outperform them.
Finding a suitable opportunity to short is my first reaction. If it is built on the Ethereum chain and has relevant functions, it can be considered. Riding the Ethereum hype is indeed a skill. Friends who want to get on board can follow the old mischievous man, who will guide you through the analysis of each cryptocurrency. Similarly, I will also be scouting some strong coins.
